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to the president's new defense budget proposal. we're looking at possibly the fewest troops since before world war ii. and a higher reliance on machines and unmanned drones. our rich edson has the latest breakdown from d.c. how does it break down, rich? >> well it depend on what you're looking at in the aspect of this. when you talk about fewer troops in the field, you look at support that goes behind that. a lot of manned vehicles especially on the ground analysts pointing to perhaps some vehicles produced by oshkosh, general dynamics, bae systems. they're retiring specifics, u-2 spy-plane, classic from the cold war is retired. maintenance cost will go away from companies. literal combat shift. they scaled back that one. hits lockheed martin and general dynamics. two unmanned drones, predator and reaper, that is built by general atomics. that will be scaled back. specific programs here and anything used to support troops will get hit in this budget. melissa: who else gets hurt? >> well that is pretty much it from that perspective, especially when you scale that down. as far as the winners are con
. this is happening with days military defense budget.n investors are running from stocks instead going into gold and oil. we're talking to former ambassador to ukraine right now. even when they say it's not it is always about money. melissa: we are kicking off with the markets. they're selling off big-time as tensions mount between ukraine and russia. we have james romelli at the cme. where are you seeing action the most? >> obviously we're seeing the broader market come off quite a bit here. it is very dangerous for this market to trade off of headlines coming out of the region. we had one majorly conflicting story out of the region today. i think trading off of that can be very dangerous. as a trader i want to focus on price action and overall. stocks tied to russia falling off the most. rsx, russian equity etf traded here in the u.s. we're today seeing something very interesting in this name. all last week we saw puts outtrade calls pretty much every day as investors got more and more bearish the fund going into the weekend. niece comes out over the weekend and today the script has flipped a
're spending on defense today you might think this is good budget. all of those things are bad for national economy. all those things are bad for economic growth and all things are especially bad for my grandchildren. so they're a nonstarter for me. melissa: congressman, thanks pour joining us. appreciate your time. >> you're welcome. thank you. melissa: let's bring back andrew keane at the cme. what do you think of this budget and what do you think market reaction over the long term to it? >> i agree with the congressman about the minimum wage. that should be done at state level. i was born in wisconsin. cost of living in wisconsin is way less than it necessary chicago. i think that is a big thing. the other thing the congressman, i looked at notes he was talking about, doing budget every two years as opposed to every year. uncertainty is bad. if they do this in the house, every single year i don't want to look in december and january worry about the budget where the stock market will go because can they get a deal done last minute and push it down the road. two budgets every two years and
Search Results 0 to 2 of about 3